The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.34 and has a known standard deviation of $2.12. A sample of 27 students in an online course that includes students across the country stated that their average price is $6.25. The students have also stated that they are generally unwilling to pay more than $7.00 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $7,00. Use a level of significance of 0.05. Is there sufficient evidence at the 0.05 level of significance that the population mean is less than $7.00? Determine the null hypothesis, Ho, and the alternative hypothesis, H₁ H₂ H₁ (Type integers or decimals. Do not round.)
The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.34 and has a known standard deviation of $2.12. A sample of 27 students in an online course that includes students across the country stated that their average price is $6.25. The students have also stated that they are generally unwilling to pay more than $7.00 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $7,00. Use a level of significance of 0.05. Is there sufficient evidence at the 0.05 level of significance that the population mean is less than $7.00? Determine the null hypothesis, Ho, and the alternative hypothesis, H₁ H₂ H₁ (Type integers or decimals. Do not round.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.34
and has a known standard deviation of $2.12. A sample of 27 students in an online course that includes students
across the country stated that their average price is $6.25. The students have also stated that they are generally
unwilling to pay more than $7.00 for this meal. Formulate and conduct a hypothesis test to determine if you can
conclude that the population mean is less than $7,00. Use a level of significance of 0.05.
Is there sufficient evidence at the 0.05 level of significance that the population mean is less than $7.00?
Determine the null hypothesis, Ho, and the alternative hypothesis, H₁
Ho
198
H₁.
(Type integers or decimals. Do not round.)
K
In
THE
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